Consolidations, Mergers and Sales of Assets; Change in Control. (a) No Borrower will, or will permit any Subsidiary to, directly or indirectly consolidate or merge or amalgamate with or into any other Person other than (i) consolidations or mergers among Borrowers where a Borrower is the surviving entity, (ii) consolidations or mergers among a Guarantor and a Borrower so long as the Borrower is the surviving entity, (iii) consolidations or mergers among Guarantors where a Guarantor is the surviving entity and (iv) consolidations or mergers among Excluded Foreign Subsidiaries. (b) No Borrower will, or will permit any Subsidiary to, directly or indirectly consummate any Asset Dispositions other than Permitted Asset Dispositions. (c) No Borrower will suffer or permit to occur any Change in Control.
Appears in 3 contracts
Sources: Credit and Security Agreement (PTC Therapeutics, Inc.), Credit and Security Agreement (Revolving Loan) (Novadaq Technologies Inc), Credit and Security Agreement (Term Loan) (Novadaq Technologies Inc)
Consolidations, Mergers and Sales of Assets; Change in Control. (a) No Borrower will, or will permit any Subsidiary to, directly or indirectly consolidate or merge or amalgamate with or into any other Person other than (i) consolidations or mergers among Borrowers where a Borrower is a the surviving entity, (ii) consolidations or mergers among a Guarantor and a Borrower so long as the Borrower is the surviving entity, (iii) consolidations or mergers among Guarantors where a the Guarantor is the surviving entity and (iv) consolidations or mergers among Excluded Restricted Foreign Subsidiaries.
(b) No Borrower will, or will permit any Subsidiary to, directly or indirectly consummate any Asset Dispositions other than Permitted Asset Dispositions.
(c) No Borrower will suffer or permit to occur any Change in ControlControl with respect to itself, any Subsidiary or any Guarantor.
Appears in 2 contracts
Sources: Term Credit and Security Agreement (Spectranetics Corp), Revolving Credit and Security Agreement (Spectranetics Corp)
Consolidations, Mergers and Sales of Assets; Change in Control. (a) No Borrower Credit Party will, or will permit any Subsidiary to, directly or indirectly (a) consolidate or merge or amalgamate with or into any other Person Person, other than (i) consolidations or mergers among Borrowers where a Borrower is the surviving entityBorrowers, (ii) consolidations or mergers among a Guarantor and a Borrower so long as the Borrower is the surviving entity, (iii) consolidations or mergers among Guarantors where a Guarantor is the surviving entity and Guarantors, (iv) consolidations or mergers among Excluded Foreign Subsidiaries.
Subsidiaries and (v) any consolidation or merger of a an Excluded Foreign Subsidiary into a Borrower or Guarantor; provided that such Borrower or Guarantor's tangible net worth is not reduced thereby, or (b) No Borrower will, or will permit any Subsidiary to, directly or indirectly consummate any Asset Dispositions other than Permitted Asset Dispositions.
(c) . No Borrower will suffer or permit to occur any Change in ControlControl with respect to itself, any Subsidiary or any Guarantor.
Appears in 1 contract
Sources: Credit and Security Agreement (Williams Industrial Services Group Inc.)